You can buy cheap short term health insurance from a wide variety of sources, but be sure you receive the coverage you will need for the money you pay.
Short Term Insurance
Short term health insurance is not meant to be a permanent solution for a person who needs medical coverage. These policies are designed to last for a short period of time -typically anywhere from a couple of months up to a year or two- but the total amount of time a short term health insurance policy is valid depends on what is offered by the insurance companies. Some companies will allow you to extend your policy out for longer than what was originally purchased, but you will have to pay to do so.
Consider a short term policy if there will be a gap in your health insurance coverage for a known period of time. Short term insurance may not be suitable if you are not sure how long you will have to wait for another health insurance policy to cover your medical needs, although short term insurance is a better alternative to no insurance coverage whatsoever.
If you need coverage because you are between jobs, be sure to first check to see if you qualify for coverage under COBRA. Compare the costs between the two options and figure out which one is most cost effective while also providing you the coverage you need.
Buy Cheap Short Term Health Insurance Online
There is no shortage of companies offering short term health insurance for purchase online. If your main concern is finding the cheapest policy available, you will need to do some comparison shopping. You may also have to accept a policy that does not provide coverage for as many medical instances as a costlier short term policy.
Here is a brief list of some of the sources available for purchasing inexpensive short term health insurance:
- Humana One offers online quotes for short term health care policies. Coverage provided by the policy can be customized to fit your budget.
- Assurant will reduce the total cost of a short term health insurance policy if the total cost of the policy is paid up front.
- eHealthInsurance will review short term policies available through a variety of companies and present you with the most inexpensive option. In this sense, eHealthInsurance acts as an insurance broker.
- United Health One offers a short term health insurance policy called "Medical Value" that is designed for people watching their budgets. The deductibles in this program are higher, all the way up to $5000.
This is not a complete list of short term health care providers which offer policies at a reduced price. Compare the myriad of options available to you before deciding on one company over another.
There is also a variety of short term plans available at a reduced cost for specific groups of people. For example, GradMed provides short term medical insurance to medical school graduates who do not yet have coverage through an employer. Discounts may be available through alumni associations.
Other companies offer similar policies for specific groups. If you belong to a professional or academic organization you may be eligible for coverage through an affiliate discount; check the website of the professional or academic organization for more information.
A Short Term Solution
When you buy cheap short term health insurance, you should keep in mind that this is a temporary solution. These types of policies are not intended to replace traditional health insurance coverage.
If you take the time to compare a variety of companies offering this type of coverage you will be able to find the best coverage available to you at the lowest cost. Keep your policy costs low by only purchasing the coverage you need and by accepting a higher level of responsibility for your own medical costs, such as highter deductibles and copayments.